A loyalty app which counts Barclays and Lloyds Banking Group among its shareholders has secured a £9m funding lifeline.
Sky News understands that existing investors in Loyalty Angels, which trades as Bink, have agreed to provide £7.5m in new capital.They have also indicated that they will agree to underwrite a further £1.5m of investment, according to insiders.
The additional funding will provide Bink with sufficient cash to operate until at least the first quarter of 2024 following a series of cost-cutting measures implemented late last year.
Source : Barclays-supported Bink raises £9m in funding to expand business